Singtel now has a leasing program that lets you upgrade to a new phone every year

Singtel has just launched a phone leasing program that allows you to upgrade to a new handset after 12 months.

Depending on the phone you’re getting, the cost of the lease starts at S$35 a month. (There's no upfront cost.) Right now, there are 10 handset models to choose from, and the most expensive lease is for the 256GB iPhone X, which is S$62/month.

After 12 months, you can return the leased phone, pay S$200 to upgrade to a new phone, and continue with the monthly lease payments for that phone. If you hold on to the leased phone longer and do the upgrade between the 19th and 24th month, the upgrade fee is S$100. Each leasing term is 24 months, and this restarts when you upgrade to a new phone. There is no upgrade fee to get a new leased phone after 24 months.

All that said, note that you can only get this leasing scheme with Singtel’s SIM Only plans. And you’ve to be a Singtel mobile and broadband customers who have been with the telco for more than 6 months. Also, you can only sign up for this service at Singtel shops; you can’t do it online.

(Here's Singtel's FAQ (PDF) for those interested to find out more, such as early termination charges.)